CPV installed capacity to rise from 358MW in 2014 to over 1GW by 2020

The global concentrated photovoltaic (CPV) market is expected to undergo a major growth spurt in the next five years, with cumulative installed capacity jumping from 357.9MW in 2014 to 1,043.96MW by 2020, forecasts a new report ‘Concentrated Photovoltaics (CPV), Update 2014 - Global Market Size, Competitive Landscape and Key Country Analysis to 2020’ from research and consulting firm GlobalData.

According to the report, China and the USA dominated the CPV market in 2013, with their cumulative installed capacities reaching shares of 35.4% and 33.3%, respectively. Spain stood third after the USA with 12.2%, followed by Portugal and Italy, with respected shares of 5.1% and 4.3%.

“The CPV market is at a nascent stage, especially with the technology evolving and achieving new heights of efficiency improvement,” notes Swati Singh, GlobalData’s Analyst covering Alternative Energy. “Companies that have been successful in operating CPV prototype systems in pilot sites are now progressing towards multi-MW CPV projects.” Two CPV power plants came online in 2012 and 2013. These were Amonix’s 30MW Alamosa in Colorado, USA, and Suncore’s 50MW CPV power plant in Golmud, China (the world’s largest CPV plant).

However, despite these developments, market growth forecast is conservative, says GlobalData. From 2009, many companies in the CPV industry, both small and large, either had to close down their businesses due to bankruptcy or were acquired by other companies.

“A further concern in the CPV industry is the reliability and performance of the systems, although significant efforts have been made to develop International Electrotechnical Commission standards for CPV system certification,” Singh concludes.

Disclaimer: Material published within Semiconductor Today and related media does not necessarily reflect the views of the publisher or staff. Juno Publishing and Media Solutions Ltd and its staff accept no responsibility for opinions expressed, editorial errors and damage/injury to property or persons as a result of material published.